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2023-01-31-accounts

BEACON BOOKS & CRAFTS LIMITED REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

G. Thomas & Co.

Chartered Accountants

BEACON BOOKS AND CRAFTS LIMITED

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023

CONTENTS PAGE
Officers and professional advisers 2
Trustees annual report 3 - 4
Accountants report 5
Income and expenditure account 6
Balance sheet 7
Notes to the financial statements 8 - 13
The following pages do not form part of the financial statements 14

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G. Thomas & Co.

Chartered Accountants

BEACON BOOKS AND CRAFTS LIMITED

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

OFFICERS AND PROFESSIONAL ADVISERS

The trustees T. Jones
Dr. J. McGowan
A.R. Thomas
J.A. Cox
H.D. Crabb
Company secretary T. Jones
Registered office 28 The Parade
Cwmbran
Torfaen
Gwent
NP44 1PT
Bankers Lloyds Bank plc
1 Gwent Square
Cwmbran
Torfaen
Gwent
NP44 1XN
Accountants G. Thomas & Co
Chartered Accountants
12 Llwynderi Road
Newport
South Wales
NP20 4LW

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G. Thomas & Co.

Chartered Accountants

BEACON BOOKS AND CRAFTS LIMITED

TRUSTEES ANNUAL REPORT

FOR THE YEAR ENDED 31 JANUARY 2023

The trustees, who are also directors for the purposes of the Companies Act, present their report and the unaudited financial statements of the company for the year ended 31 January 2023

METHOD OF APPOINTMENT OF TRUSTEES

Most of the trustees are nominated by local churches, each church entitled to one church representative/trustee. In addition there can also be up to four ad hoc trustees. All trustees must be in agreement with the charity's doctrinal basis.

CHARITABLE OBJECTS

The charity is company limited by guarantee and governed by its memorandum and articles. The object for which the company is established is to advance religion by spreading the Gospel of Jesus Christ and in furtherance of this the the company operates a shop for the purpose of selling Christian Literature, music and other related items. The company is a registered charity, number 517778, and its company registration number is 2030402.

The principal activity of the company during the year was the retailing of books and crafts.

REVIEW OF THE ACTIVITIES FOR THE YEAR

In the year to 31 January 2023 the ministry of the shop has been maintained as a service to the churches in the area and as a witness in the town centre to the whole community.

The trustees have managed the charity carefully and have continued to encourage gift support. Churches and Christians continue faithfully to support the ministry of the shop through regular gifts. The combination of careful management and gift income maintained the financial stability of the shop, although difficult trading conditions resulted in a a trading deficit for the year. The trustees continue to look for new ways of bringing additional stability.

TRUSTEES

The trustees who served the company during the period were as follows:

T. Jones

A.R. Thomas

J.A. Cox H.D. Crabb Dr. J. McGowan

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G. Thomas & Co.

Chartered Accountants

BEACON BOOKS AND CRAFTS LIMITED

TRUSTEES ANNUAL REPORT (continued)

FOR THE YEAR ENDED 31 JANUARY 2023

RESPONSIBILITIES OF THE TRUSTEES

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company at the end of the year and of the incoming and outgoing resources for the year then ended.

In preparing these financial statements, the trustees are required to select suitable accounting policies and then apply them consistently, making judgements and estimates that are reasonable and prudent. The trustees must also prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue its activities.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

REPORTING ACCOUNTANTS

G. Thomas & Co will continue in office as reporting accountants for the ensuing year.

SMALL COMPANY PROVISIONS

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

BY ORDER OF THE TRUSTEES

………………………………………

T. Jones - Company Secretary

Approved by the trustee on 9th October 2023

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G. Thomas & Co.

Chartered Accountants

BEACON BOOKS AND CRAFTS LIMITED

ACCOUNTANTS' REPORT TO THE MEMBERS OF BEACON BOOKS & CRAFTS LIMITED

FOR THE YEAR ENDED 31 JANUARY 2023

We report on the unaudited accounts for the year ended 31 January 2023 set out on pages 6 to 11

RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES AND THE REPORTING ACCOUNTANTS

As described on page 4 the trustee of the company are responsible for the preparation of the accounts, and they consider that the company is exempt from an audit. It is our responsibility to carry out procedures designed to enable us to report our opinion.

BASIS OF OUR OPINION

Our work was conducted in accordance with the Statement of Standards for Reporting Accountants, and so our procedures consisted of comparing the accounts with the accounting records kept by the company, and making such limited enquiries of the officers of the company as we considered necessary for the purposes of this report. These procedures provide only the assurance expressed in our opinion.

OPINION

In our opinion:

Dated 10th October 2023

G. THOMAS & CO

Chartered Accountants 12 Llwynderi Road Newport South Wales

NP20 4LW

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G. Thomas & Co.

Chartered Accountants

BEACON BOOKS & CRAFTS LIMITED

REPORT AND FINANCIAL STATEMENTS INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JANUARY 2023

Note
INCOMING RESOURCES
Gifts
2
Job retention scheme income
1
Other coronavirus grant income
1
Activities in furtherance of the charity's objects:
Operating activities
3
Interest receivable
4
Gross profit
RESOURCES EXPENDED
Charitable expenditure:
Costs in furtherance of charitable objects:
Staff costs
5
Depreciation and other costs
5
Management and administration
6
TOTAL RESOURCES EXPENDED
7
NET RESOURCES FOR THE YEAR
Balances brought forward
Balances carried forward		 Total Funds
2023
£
£
11,748
-
-
25,958
6
37,712
24,671
25,298
694
50,663
(12,951)
17,729
4,778		 Total Funds
2022
£
£
5,987
6,120
7,000
23,103
2
42,212
23,956
20,128
575
44,659
(2,447)
20,176
17,729		 Total Funds
2022
£
£
5,987
6,120
7,000
23,103
2
42,212
23,956
20,128
575
44,659
(2,447)
20,176
17,729
42,212
44,659
(2,447)
20,176
17,729

All movements are in Unrestricted Funds.

The company has no recognised gains or losses other than the results for the year as set out above.

All the activities of the company are classed as continuing

The notes on pages 8 to 12 form part of these financial statements

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BEACON BOOKS & CRAFTS LIMITED

REPORT AND FINANCIAL STATEMENTS

BALANCE SHEET

AS AT 31 JANUARY 2023

AS AT 31 JANUARY 2023
**Note ** 2023 2022
£ £ £ £
FIXED ASSETS 10 - -
Tangible assets
CURRENTS ASSETS
Stocks 11 5,731 7,334
Debtors 12 1,969 1,901
Cash in Hand and at Bank 13 4,360 13,437
12,060 22,672
CREDITORS:Amounts falling due within one year 14 4,782 2,443
NET CURRENT ASSETS/(LIABILITIES) 7,278 20,229
TOTAL ASSETS LESS CURRENT LIABILITIES 7,278 20,229
CREDITORS:Amounts falling due after more than one year 15 2,500 2,500
TOTAL ASSETS/(LIABILITIES) 4,778 17,729
Financed By:
FUNDS:
Unrestricted 16 4,778 17,729
TOTAL FUNDS 4,778 17,729

The trustees are satisfied that the company is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the audit of the financial statements for the year by virtue of section 477, and that no member or members have requested an audit pusuant to section 476 of the Act.

The trustees acknowledge their responsibilities for:

(a). ensuring that the company keeps proper accounting records which comply with Section 386 of the Act, and

(b). preparing financial statements which give a true and fair view of the state of affairs of the company, as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of Sections 394 and 395, and which otherwise comply with the requirements of the Act relating to financial statements, so far as applicable to the company.

These financial statements have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.

These financial statements were approved by the trustees on the 1st October 2023 and are signed on their behalf by:

…………………………………………

The notes on pages 8 to 12 form part of these financial statements

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BEACON BOOKS & CRAFTS LIMITED

REPORT AND FINANCIAL STATEMENTS

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2023

1 ACCOUNTING POLICIES

Basis of accounting

The financial statements are prepared in accordance with the Statement of Recommended Practice "Accounting and Reporting by Charities" (SORP 2000) and the Companies Act 2006.

Accounting convention

The financial statements are prepared under the historical cost convention.

Going Concern

The financial statements are prepared under the going concern basis

Cash flow statement

The trustees have taken advantage of the exemption in Financial Reporting Standard No 1 (Revised) from including a cash flow statement in the financial statements on the grounds that it qualifies as small.

Incoming resources

Donations are recognised when all conditions relating to their receipt have been met. All incoming resources are recognised without any netting off of related expenditure.

Tangible fixed assets

Depreciation is calculated so as to write of the cost of the asset, less its estimated residual value, over its useful economic life. The rates of depreciation are as follows:

Fixtures & fittings

Stocks

Stocks are stated at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Resources expended

Management and administration costsrelate to the costs of running the company as an organisationas listed in note 7, with all other costs being considered as directly relating to the provision of charitable services.

Charitable status

Beacon Books and Crafts Limited is a registered charity. Therefore, no provision has been made for taxation in these financial statements.

Liabilities

Liabilities are recognised by the charity once a legal or constructive obligation exists.

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BEACON BOOKS & CRAFTS LIMITED

REPORT AND FINANCIAL STATEMENTS

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2023

1
OTHER INCOME
Job Retention scheme income
Local Authority coronavirus grant
2
GIFTS
Gifts
3
OPERATING ACTIVITIES
Shop Sales
4
INTEREST RECEIVABLE
Bank interest receivable
5
COSTS IN FURTHERANCE OF CHARITABLE OBJECTS
Provision of charitable services:
Cost of sales
Premises costs
Insurance
Staff costs
Office costs and sundries
Depreciation		 2023
£
-
-
2023
£
11,748
2023
£
25,958
2023
£
6
2023
£
11,991
11,845
691
24,671
771
-
49,969		 2022
£
6,120
7,000
2022
£
5,987
2022
£
23,103
2022
£
2
2022
£
8,060
11,056
432
23,956
580
-
44,084

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BEACON BOOKS & CRAFTS LIMITED

REPORT AND FINANCIAL STATEMENTS

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2023

COSTS IN FURTHERANCE OF CHARITABLE OBJECTS ( Continued )

Analysis of provision of charitable services:

Cost of sales
Premises costs
Insurance
Staff costs
Office costs and sundries
Depreciation		 Staff
Costs
£
-
-
-
24,671
-		 Depreciation
£
-
-
-
-
-
-		 Other
Costs
£
11,991
11,845
691
-
771
-		 Total
2023
£
11,991
11,845
691
24,671
771
-		 Total
2022
£
8,060
11,056
432
23,956
580
-
24,671 - 25,298 49,969 44,084

6 MANAGEMENT AND ADMINISTRATION

Accountancy fees
Legal and professional
Interest payable and similar charges		 2023
£
-
-
694		 2022
£
-
-
575
694 575
Direct charitable expenditure
Fundraising and publicity
Management and administration		 Staff
Costs
£
24,671
-
-		 Depreciation
£
-
-
-		 Other
Costs
£
25,298
-
694		 Total
2023
£
49,969
-
694		 Total
2022
£
44,084
-
575
24,671 - 25,992 50,663 44,659
The aggregate payroll costs were:
2023 2022
£ £
Wages and salaries 24,671 23,956

No trustee received any remuneration during the year, nor was reimbursed any expenses ( 2022 - nil )

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BEACON BOOKS & CRAFTS LIMITED

REPORT AND FINANCIAL STATEMENTS

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2023

TOTAL RESOURCES EXPENDED ( Continued )

8 Particulars of employees:

The average number of staff employed by the company during the financial year was:

Number of full time equivalent shop staff
9
OPERATING PROFIT/(LOSS)
Operating profit/(loss) is stated after charging:
Depreciation
10
TANGIBLE FIXED ASSETS
Opening Cost
Additions during the year
Disposals during the year
Closing Cost
Opening Depreciation
Charge for the year
Released on Disposals
Closing Depreciation
Net Book Values : This Year
Net Book Values : Last Year		 2023
No
2
2023
£
-
Fixtures
& Fittings
£
12,098
-
-
12,098
12,098
-
-
12,098
-
-		 2022
No
2
2022
£
-

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BEACON BOOKS & CRAFTS LIMITED

REPORT AND FINANCIAL STATEMENTS

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2023

11
STOCKS
2023
£
Stocks
5,731
12
DEBTORS
2023
£
Trade Debtors
-
VAT
107
Prepayments
1,862
1,969
13
CASH IN HAND AND AT BANK
2023
£
Cash in hand and at bank
4,360
14
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
£
Trade creditors
1,387
VAT
-
Accruals
3,395
4,782
15
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023
£
Interest free long term loans
2,500
2,500
16
ANALYSIS OF NET ASSETS IN UNRESTRICTED FUNDS
2023
£
Tangible fixed assets
-
Other net assets
4,778
17
ULTIMATE CONTROLLING PARTY
There is no one ultimate controlling party of the charity.		 2022
£
7,334
2022
£
-
-
1,901
1,901
2022
£
13,437
2022
£
2,443
-
-
2,443
2022
£
2,500
2,500
2022
£
-
17,729

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BEACON BOOKS & CRAFTS LIMITED

MANAGEMENT INFORMATION

FOR THE YEAR ENDED 31 JANUARY 2023

The following pages do not form part of the statutory financial statements which are the subject of the accountants' report on page 5

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BEACON BOOKS & CRAFTS LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 JANUARY 2023
2023
£
£
INCOME
Gifts
11,748
Bank interest recievable
6
Job retention scheme income
-
Other coronavirus grant income
-
Shop sales
25,958
TOTAL INCOME
37,712
COSTS OF GENERATING FUNDS
Advertising costs
-
CHARITABLE EXPENDITURE
Cost of sales
11,991
Wages and salaries
24,671
Rent and service charge
9,817
Rates and water
149
Heat, Light & Power
1,854
Insurance
691
Repairs and renewals
26
Carriage and postage
98
Telephone
435
Sundry expenses
237
Depreciation
-
49,969
MANAGEMENT AND ADMINISTRATION
Legal fees
-
Reporting accountants' fees
-
-
INTEREST PAYABLE
Bank interest payable
-
Bank charges
694
694
TOTAL EXPENDITURE
50,663
NET (DEFICIT)/RESOURCES GENERATED IN THE YEAR
(12,951)		 2022
£
£
5,987
2
6,120
7,000
23,103
42,212
-
8,060
23,956
9,608
144
1,010
432
294
94
289
197
-
44,084
-
-
-
-
575
575
44,659
(2,447)		 2022
£
£
5,987
2
6,120
7,000
23,103
42,212
-
8,060
23,956
9,608
144
1,010
432
294
94
289
197
-
44,084
-
-
-
-
575
575
44,659
(2,447)
42,212
44,659
8,060
23,956
9,608
144
1,010
432
294
94
289
197
-
44,084
-
-
-
-
575
575
(2,447)

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